LG Display Stock Gains On Strong Q2 Helped By High LCD Panel Prices - LG Display Co (NYSE:LPL)

LG Display Co Ltd LPL reported second-quarter FY21 revenue growth of 31% year-on-year to KRW 6.97 trillion. The revenue of $6.2 billion missed the analyst consensus of $6.33 billion.
High sales in TV displays, including OLED, solid performance in IT products, and increased LCD panel prices drove the numbers.
LG Display’s OLED TV panel shipments in the first half of this year surpassed 3.5 million units, putting the company on track to sell 8 million OLED panels within the year.
The operating margin reached a double-digit percentage of 10% for the first time in 16 quarters.
The EBITDA margin of 25.4% was the highest margin since Q3 of 2009.
The EPS of $0.53 beat the analyst consensus of $0.44.
It held KRW 4.2 trillion in cash and equivalents at the end of the quarter.
The company generated KRW 1.5 trillion in operating cash flow.
Outlook: LG Display will continue to seek to increase profit by continuing to strengthen its position within the super large-size TV market and expand its position within the mid-size premium market in the second half of this year.
It aims to turn its large-size OLED business in the black in the H2 while pursuing an operating margin in a mid-single-digit range from 2022, and eventually, a double-digit range in the mid to long run.
Price action: LPL shares are trading higher by 2.63% in premarket at $9.77 on the last check Wednesday.